Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by PAn8tv

This relates to the dianr how?

I see it as a tip, currency goes down, investors grab it, US knocks Ortega Taco out and currency gains.

Thanks.

LACK OF ECONOMIC SECURITY POSES GREATER THREAT THAN TERROR - Yahoo! News





LACK OF ECONOMIC SECURITY POSES GREATER THREAT THAN TERROR
Mon Nov 6, 11:04 AM ET

Cynthia Tucker

In the final days before the midterm elections, the misbegotten war in Iraq is still dominating headlines and airwaves. As well it should. Since the terrorist attacks of 9/11, Republicans have insisted on making their so-called war on terror the centerpiece of every election campaign. It serves them right to be chained to the stern of that sinking ship now.

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The next Congress must deal with Iraq but also must begin to look beyond it. The economy -- and the growing gap between the haves and have-nots -- needs just as much attention as the war. Indeed, farsighted economists have argued that the decline of the nation's manufacturing base poses a greater threat to America than Islamic jihadists.

The attacks on the Twin Towers and the Pentagon were outrageous and shocking, but Osama bin Laden has paid dearly for them. Through a straightforward military offensive in Afghanistan and countless covert actions, the United States has succeeded in disrupting al-Qaida, writer James Fallows argued recently in the Atlantic Monthly.

(As Fallows also notes, the United States damaged its own national security by invading Iraq -- fraying old political alliances, bogging down our troops and giving al-Qaida a new cause for recruitment. This country would be safer by now had we stayed out.)

Meanwhile, a more insidious force -- globalization -- has eaten away at our economic infrastructure. For 30 years now, global competition has been quietly gaining on us, melting the broad base that lifted so many Americans into the middle class. Steel mills are shuttered; textile plants have disappeared; domestic automakers are in their death throes.

Those lost jobs have not been replaced by work that pays as well or that grants health insurance and pensions. The unemployment rate -- a low 4.6 percent -- doesn't account for the fact that many of those jobs are at Wal-Mart and McDonald's.

This nation is not held together by ethnic heterogeneity, religious solidarity or ancient bonds. While we tell ourselves that the ties that bind are the Enlightenment ideals of democracy and egalitarianism, the American dream is really about economic security.

The post-World War II economy guaranteed working men and women health care, a pension and a chance at home ownership. If that dream disappears for most Americans, what will hold us together? Will we become like fractious Latin American countries (think Venezuela), with a constant low-grade warfare between the poor and the wealthy?

You'd think that more members of Congress would have noticed the destruction wrought by global forces, but they've barely hinted at it. While the Democrats have at least championed an increase in the minimum wage, Republicans insist that the economy is in great shape.

If you're standing on the same platform as the average member of Congress, things do look pretty good. Senators and representatives earn more than $165,000 a year (the median household income is around $46,000 annually), and they have excellent health insurance. Some of them came to Congress with wealth. They don't really see the decline of the middle class.

If they did, they'd do something about it. First off, they'd start rolling out government-paid health insurance for every American. The high cost of health insurance is a huge burden for American companies -- a cost that many overseas competitors don't bear.

Second, they'd start a heavily funded national program for energy independence, similar to the space race that followed the Soviets' Sputnik launch. Not only would such a program jump-start science education, but it would also spark entire new industries. It might even lead us to a new, more stable prosperity that doesn't depend on the whims of Middle Eastern tyrants.

The war on terror is certainly important. But so is the war against economic decline, and we're losing that one.

(Cynthia Tucker is editorial page editor for The Atlanta Journal-Constitution. She can be reached by e-mail: [email protected].)

LOL Bumped into this converter with a comment from SGS

Calculator for Iraqi Dinar (IQD) Currency Exchange Rate Conversion

Did you post that Susie? You sure get around. ;)

keep your dinar
dont be swayed by these *****s that arent aware. the dinar is about to revalue near parity to the dollar. :)

shotgunsusie

Hey SGS,

Have you read or seen anything today that would prompt us to believe that the 10K distribution has started or that it is a certainty in the next day or so. Some official source actually confirming the physical transfer of the checks? Thanks

nternational Advisory and Monitoring Board on the Development Fund for Iraq
Press Release
November 6, 2006
Statement by the International Advisory and Monitoring Board on the Development Fund for Iraq

The International Advisory and Monitoring Board (IAMB) on the Development Fund for Iraq (DFI) met in Paris on October 30-31, 2006 and issued the following statement:

"The IAMB met to continue its oversight role over the use of resources of the DFI, which is the principal repository for Iraq's oil-export receipts, and continued to oversee audits of the DFI in line with its mandate under UN Security Council Resolution 1637. The IAMB (i) received and discussed the follow-up special audit reports of the single sourced contracts using DFI resources; (ii) discussed the results of the external auditor’s review of the interim DFI financial statement; and (iii) considered the progress in establishing an Iraqi oversight body to succeed the IAMB.

"Each of the external audit firms, Crowe Chizek and KPMG, reported on the findings of the follow-up special audits of sole sourced contracts. The IAMB had previously announced its concern about the use of non‑competitive contracting using DFI resources. The special audits were undertaken at the request of the IAMB and commissioned by the U.S. Government. The purpose of these audits were to (i) review the settlement between Kellogg, Brown and Root (KBR) and the U.S. Government, and (ii) further review the other sole-sourced contracts using DFI resources. These special audits have now been completed, and final audit reports for both audits are available on the IAMB website (www.iamb.info).

"Crowe Chizek reported that in their opinion the settlements between KBR and the U.S. Army Corps of Engineers were reasonable. Their audit reviewed the findings of earlier audit reports by the Defense Contract Audit Agency (DCAA) and found that the conclusions reached by DCAA were supported by the underlying accounting and auditing records. The findings also provide additional information about the transportation costs incurred by KBR in providing humanitarian fuel supplies to Iraq in the period May 2003 to March 2004. These costs were very high, in some cases as much as 86 percent of the total contract costs. The IAMB continues to question the reasonableness of these costs and the adequacy of the administration of contracts.

"KPMG briefed the IAMB on the results of the follow-up audit of the other sole-sourced contracts. KPMG noted a total of $22.4 million in unresolved amounts relating to (i) no evidence of goods received, (ii) unreconciled payments, and (iii) a lack of corrective action on some previously reported exceptions.

"In view of these findings the IAMB recommends that the Iraqi Government seek resolution with the U.S. Government concerning the use of resources of the DFI which might be in contradiction with the UN Security Council Resolution 1483.

"The IAMB had earlier agreed that the 2006 audit of the DFI should cover the period January 1 to December 31, 2006 with an interim audit for the period from January 1, 2006 to June 30, 2006. The IAMB was presented with the draft interim financial statement reviewed by Ernst & Young together with updated observations covering Iraq's oil export sales and the DFI operations for the period from January 1, 2006 to June 30, 2006. A summary of the results of the Ernst & Young interim review is available on the IAMB website (www.iamb.info). While Ernst & Young’s review noted progress in the financial control system, the review continues to be critical of the financial and accounting control systems. The overall control system needs to be further improved to be sufficiently effective.

"The IAMB received useful briefings from the Representative of Iraq and the President of the Iraqi Board of Supreme Audit (BSA) on progress in implementing earlier IAMB recommendations. The IAMB welcomed the action the Government of Iraq is taking on the implementation of the IAMB recommendations, and continued to reiterate its concern that key actions, especially the installation of an oil metering system, needed to be comprehensive and were taking a long time to implement.

"The IAMB mandate expires on December 31, 2006 under United Nations Security Council Resolution 1637. The Representative of Iraq informed the IAMB that the Iraqi Council of Ministers at its meeting on October 19, 2006 approved the establishment of an Iraqi oversight body, hereinafter referred to as the Committee of Financial Experts, to be chaired by the President of the BSA. The IAMB welcomes the establishment of the Committee of Financial Experts to continue the work of the IAMB upon its dissolution and encourages the continuation of independent oversight. Transparency in the collection, recording, investing and spending of oil revenues is of paramount importance in providing assurance that Iraqi oil resources are properly managed and spent.

"The final meeting of the IAMB is tentatively scheduled for December 11-12."

IAMB link

Activists-Media :: Aswat al Iraq :: Aswat al Iraq

Iraq-Curfew :: Aswat al Iraq :: Aswat al Iraq

Curfew-Lifting :: Aswat al Iraq :: Aswat al Iraq

Radio Nawa

Radio Nawa

U.S. envoy to Iraq likely quitting post - Yahoo! News

third link indicates curfew lifted tuesday morning in 3 areas of iraq.

Originally Posted by Jola

Obviously no woooots today...

its 8pm baghdad right now and it will be 12 hours before tuesday begins at the bank which for me will be a gigantic WOoT!!!!!!!!!!!

Originally Posted by shotgunsusie

http://www.alertnet.org/search/index...=jiraq&order=A

ever think you would see this??? reuters reports NO ARTICLES ON IRAQ. lol

You snuck a j in there,

http://www.alertnet.org/search/index...y=iraq&order=A

Originally Posted by MrsCK

nternational Advisory and Monitoring Board on the Development Fund for Iraq
Press Release
November 6, 2006
Statement by the International Advisory and Monitoring Board on the Development Fund for Iraq

The International Advisory and Monitoring Board (IAMB) on the Development Fund for Iraq (DFI) met in Paris on October 30-31, 2006 and issued the following statement:

"The IAMB met to continue its oversight role over the use of resources of the DFI, which is the principal repository for Iraq's oil-export receipts, and continued to oversee audits of the DFI in line with its mandate under UN Security Council Resolution 1637. The IAMB (i) received and discussed the follow-up special audit reports of the single sourced contracts using DFI resources; (ii) discussed the results of the external auditor’s review of the interim DFI financial statement; and (iii) considered the progress in establishing an Iraqi oversight body to succeed the IAMB.

"Each of the external audit firms, Crowe Chizek and KPMG, reported on the findings of the follow-up special audits of sole sourced contracts. The IAMB had previously announced its concern about the use of non‑competitive contracting using DFI resources. The special audits were undertaken at the request of the IAMB and commissioned by the U.S. Government. The purpose of these audits were to (i) review the settlement between Kellogg, Brown and Root (KBR) and the U.S. Government, and (ii) further review the other sole-sourced contracts using DFI resources. These special audits have now been completed, and final audit reports for both audits are available on the IAMB website (www.iamb.info).

"Crowe Chizek reported that in their opinion the settlements between KBR and the U.S. Army Corps of Engineers were reasonable. Their audit reviewed the findings of earlier audit reports by the Defense Contract Audit Agency (DCAA) and found that the conclusions reached by DCAA were supported by the underlying accounting and auditing records. The findings also provide additional information about the transportation costs incurred by KBR in providing humanitarian fuel supplies to Iraq in the period May 2003 to March 2004. These costs were very high, in some cases as much as 86 percent of the total contract costs. The IAMB continues to question the reasonableness of these costs and the adequacy of the administration of contracts.

"KPMG briefed the IAMB on the results of the follow-up audit of the other sole-sourced contracts. KPMG noted a total of $22.4 million in unresolved amounts relating to (i) no evidence of goods received, (ii) unreconciled payments, and (iii) a lack of corrective action on some previously reported exceptions.

"In view of these findings the IAMB recommends that the Iraqi Government seek resolution with the U.S. Government concerning the use of resources of the DFI which might be in contradiction with the UN Security Council Resolution 1483.

"The IAMB had earlier agreed that the 2006 audit of the DFI should cover the period January 1 to December 31, 2006 with an interim audit for the period from January 1, 2006 to June 30, 2006. The IAMB was presented with the draft interim financial statement reviewed by Ernst & Young together with updated observations covering Iraq's oil export sales and the DFI operations for the period from January 1, 2006 to June 30, 2006. A summary of the results of the Ernst & Young interim review is available on the IAMB website (www.iamb.info). While Ernst & Young’s review noted progress in the financial control system, the review continues to be critical of the financial and accounting control systems. The overall control system needs to be further improved to be sufficiently effective.

"The IAMB received useful briefings from the Representative of Iraq and the President of the Iraqi Board of Supreme Audit (BSA) on progress in implementing earlier IAMB recommendations. The IAMB welcomed the action the Government of Iraq is taking on the implementation of the IAMB recommendations, and continued to reiterate its concern that key actions, especially the installation of an oil metering system, needed to be comprehensive and were taking a long time to implement.

"The IAMB mandate expires on December 31, 2006 under United Nations Security Council Resolution 1637. The Representative of Iraq informed the IAMB that the Iraqi Council of Ministers at its meeting on October 19, 2006 approved the establishment of an Iraqi oversight body, hereinafter referred to as the Committee of Financial Experts, to be chaired by the President of the BSA. The IAMB welcomes the establishment of the Committee of Financial Experts to continue the work of the IAMB upon its dissolution and encourages the continuation of independent oversight. Transparency in the collection, recording, investing and spending of oil revenues is of paramount importance in providing assurance that Iraqi oil resources are properly managed and spent.

"The final meeting of the IAMB is tentatively scheduled for December 11-12."

IAMB link

While I am no expert it looks like it will be after this date before we see anything. I sometimes wonder if the the ultimate goal was to keep the currency low while our BIG OIL companies come in and buy everything up??

Originally Posted by doublescorpio

While I am no expert it looks like it will be after this date before we see anything. I sometimes wonder if the the ultimate goal was to keep the currency low while our BIG OIL companies come in and buy everything up??

The article reads that KBR is raping the DFI like no tomorrow and now they are going to hand it over to another created oversight (BSA). They should have just rescinded as was anticipated and took control of the money themselves.